AstridDAO is a decentralized borrowing protocol that allows users to draw interest-free loans against multiple collateral assets (e.g., ASTR, ETH, BTC).

Loans are paid out in BAI (a USD-pegged stablecoin) and users must maintain a minimum collateral ratio, which varies depending on the collateral assets they deposit.

In addition to the collateral, the loans are secured by a stability pool containing AstridDAO’s native stablecoin, $BAI, where borrowers collectively act as guarantors to ensure a fast and safe liquidation process in case of an account becoming under-collateralized.

These two mechanisms, that is:

Borrowers’ ability to instantly redeem $BAI for their collaterals at face value (i.e., 1 BAI for $1 of ASTR) and
Borrowers’ ability to instantly liquidate under-collateralized accounts from the stability pool
In combination, create an efficient demand/supply dynamic, which in turn hard-pegs $BAI to the US Dollar.

Furthermore, there are five key features that differentiate $BAI from other stablecoins.

1) Over-collateralization = more stability. AstridDAO takes a conservative approach regarding its reserves and is, in fact, over-collateralized. Over-collateralization means that the value of its assets exceeds the value of borrowed BAI at any given time.

2) High capital efficiency = more leverage & more liquidity. AstridDAO’s efficient liquidation mechanism allows users to get the most liquidity for their favorite crypto assets and maximize their leverage exposure.

3) Native stablecoin = high APY. AstridDAO closely collaborates with other DeFi protocols in the Astar/Polkadot ecosystem to provide optimized yield strategies and higher APY.

4) XCM bridge = Polkadot ecosystem exposure. As a DeFi protocol in the Astar/Polkadot ecosystem, AstridDAO will soon reap the benefits of the XCM bridge, which will permit it to interoperate with the entire Polkadot ecosystem and other parachains.

5) DAO governance = more flexibility & decentralization. On-chain governance can adjust protocol parameters (e.g., liquidation ratio), add collateral assets, and improve proposals via veATID tokens.

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